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Apex Court challenges Naira Redesign policy of the FG.

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Apex Court challenges Naira Redesign policy of the FG.

Apex Court challenges Naira Redesign policy of the FG.

All Eyes on Supreme Court as Suit against Banning Old Naira Notes Resumes Today.

The Supreme Court of Nigeria has joined the Attorneys General of Katsina, Lagos, Cross Rivers, Ogun, Ondo, Ekiti, and Sokoto states as co-plaintiffs in the suit challenging the Naira Redesign policy of the Federal Government.

The various State Governments had,,,,,,,,,,, through their AGs,,,,,,,,,,, applied to be joined in the suit.

Three States of Northern extraction, namely, Kaduna, Kogi and Zamfara, had, in a motion ex-parte filed on the 3rd of this month, prayed to the apex court to halt the Central Bank of Nigeria naira redesign policy.

 

Similarly, the apex court joined Bayelsa and Edo states as co-respondents.

Justice Inyang Okoro, leading a 7-man panel of Justices of the Supreme Court, ordered the plaintiff to amend the originating process to reflect the co-plaintiffs joined in the suit.

The Supreme Court had,,,,,,,,,,, on the 6th of this month, granted an interim injunction restraining the FG, CBN and commercial banks from implementing the February 10 deadline for the old 200, 500 and 1000 Naira notes to stop being legal tender.

The court further held that the FG, CBN and commercial banks must not continue with the deadline pending the determination of a notice on notice in respect of the issue on February 15.

Apex Court challenges Naira Redesign policy of the FG.

 

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